Global devt banks close ranks as AIIB launch nears

Tokyo

FOR the second time in a matter of months, the world's leading multilateral development banks have come together to express solidarity as the start of operations by the rival China-led Asian Infrastructure Investment Bank (AIIB) and the BRICS Bank approaches.

Last November, in an extraordinary show of solidarity - and what some saw as defensiveness - the multilateral development banks (MDBs) and the Interna…